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Buzzacott advises Lexana Capital Limited on its acquisition of Jaama Limited

Corporate Finance deal announcement: Buzzacott provides buy-side M&A advice and financial due diligence services to Lexana Capital Limited on its acquisition of Jaama Limited

Investor: Lexana Capital Limited

Seller: Jaama Limited

Type of deal: Acquisition/MBI/Search Fund

Sector: Software-as-a-Service

Date: July 2023

Overview of deal

We are delighted to announce Lexana Capital’s acquisition of Jaama Limited. The acquisition will see Andrew Holgate step in as the new CEO of the company in place of the departing Jason Francis. Andrew will be joined by industry veteran Paul Waterhouse who will take on the role of CFO.

Who are the firms involved

Lexana Capital is a Search Fund, established by Andrew Holgate (MD) backed by numerous highly experienced investors with the aim of acquiring a British business with revenue of up to £25m.

Jaama Ltd is a UK-based company specialising in providing fleet management software solutions and related services. Founded in 2004, the company has established itself as a leading provider of innovative and comprehensive fleet management systems tailored to meet the needs of businesses operating vehicle fleets of all sizes.

Jaama's flagship product is called Key2, a web-based fleet management software platform that offers a range of integrated modules to help organizations effectively manage their vehicle operations. Key2 encompasses various functionalities, including vehicle ordering and delivery management, maintenance scheduling, fuel management, driver and compliance management, accident management, and asset tracking. The platform is designed to streamline processes, enhance operational efficiency, improve compliance, and reduce costs for fleet operators.

What we liked about this deal

At Buzzacott we very much enjoy the level of involvement Search Fund transactions require. A comprehensive array of services was provided including transaction advisory, financial and tax due diligence and structuring. We worked closely with Andrew throughout the process to ensure a successful outcome was reached.

The financial due diligence/transaction advisory team was made up of Alex Judd, George Thresh and Stephen Byrne. The tax due diligence and tax structuring team was made up of Alastair McQuater, Tony Dillow and Kazia Kruszewski.

To see further transactions in the tech and media sector, please see our transactions page.

“The Buzzacott team were uniquely placed to provide invaluable assistance throughout the transaction. They supported me across multiple disciplines and were always on hand to help keep things running smoothly from kick off to completion.”

Andrew Holgate - CEO (Jaama Limited)

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